DEBT

COMPANIES

BANCA MONTE DEI PASCHI DI SIENA

The struggling Italian bank has approved a long-awaited preliminary restructuring plan that must now be cleared by European authorities for the lender to be granted a state bailout.

BANCA CARIGE

Moody’s has downgraded Carige long-term ratings and assessments by one notch, reflecting the challenges that the bank is facing in reducing its stock of problem loans as requested by the ECB whilst maintaining capital levels above prudential requirements and guidance.

BRUNELLO CUCINELLI

The Italian luxury goods group reported on Thursday a 13.2 percent rise in full-year core profit, boosted by demand in Greater China and sales through its mono-brand stores.

Its Like-for-like sales between Jan. 1 and Feb. 26 are up 3.8 percent, according to a company slide.

The company’s Chief Executive said he expects 2017 revenue of 500 million euros.

A2A

The utility said it had issued bonds worth 300 million euros in a private placement.

PARMALAT

AUTOGRILL

Shares in Autogrill jumped more than 5 percent on Thursday after the airports and motorway caterer promised steady revenue growth over the next three years following a 53 percent leap in 2016 net profit.

LEONARDO

Lockheed Martin Corp and Europe’s MBDA will set up a new joint venture to manage a multibillion-euro missile defence programme given German concerns about MBDA’s ability to execute the project on its own, sources familiar with the plans said on Thursday.

Leonardo wants to increase its presence in the United States, especially in the cyber sector, the company’s chief executive said on Thursday.

L‘ESPRESSO, FIAT CHRYSLER

Italy’s Antitrust Authority on Thursday gave conditional approval to the merger of L‘Espresso group and La Stampa, publishers of three of the country’s biggest newspapers.

(*) FINCANTIERI

The shipbuilder said on Friday it would further extend the closing date for the buyout offer on Vard’s shares to March 24, but not beyond that date.

BENI STABILI

The company said it had repurchased bonds due 2019 for 266.7 million euros.

CREDIT AGRICOLE

ERG

LU-VE

TREVI

Bond holders’ meeting (0900 GMT).

BANCA FINNAT

Board meeting on FY results (preliminary results on Feb. 9).

BANCA GENERALI

Board meeting on FY results (preliminary results on Feb. 10).

ALITALIA

The board of Italy’s Alitalia sees the restructuring plan prepared by the loss-making airline’s chief executive as “serious and realistic”, the carrier said in a statement. The plan will be put forward for a final approval by the board next week, it added. (*) The plan could be presented to the Italian government as early as Friday and to unions in the next days, La Stampa reported. (*) Etihad Airways is committed to guaranteeing 300 million euros for the Italian carrier, reported il Messaggero. (*) Luigi Gubitosi, former director general of state broadcaster RAI, is reported to be the next chief executive of the carrier, several newspapers said. (*) Gubitosi was in Abu Dhabi on Wednesday and Thursday to meet top management of Etihad, added Corriere della Sera. Both him and current Chief Executive Cramer Ball could act as co-CEOs, Corriere added.